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SIM Acquisition Corp. I (Nasdaq: SIMAU) has announced that starting August 30, 2024, holders of units from its initial public offering can choose to trade the company's Class A ordinary shares and warrants separately. The Class A ordinary shares will trade under the symbol SIMA, while the warrants will trade under SIMAW on the Nasdaq Global Market. Unseparated units will continue trading under SIMAU.
Key points:
- Only whole warrants will be traded; no fractional warrants will be issued
- The announcement does not constitute an offer to sell or solicit offers to buy securities
- Trading of separated securities is subject to compliance with state and jurisdiction securities laws
SIM Acquisition Corp. I successfully closed its initial public offering (IPO) on July 11, 2024, raising gross proceeds of $230 million from the sale of 23 million units, including the exercise of the underwriters' over-allotment option. Each unit, priced at $10, comprises one Class A ordinary share and one-half of a redeemable warrant, allowing the purchase of one Class A share at $11.50 per share. Trading commenced on July 10, 2024, on the Nasdaq under the ticker 'SIMAU,' with separate listings for shares ('SIMA') and warrants ('SIMAW') expected. The IPO proceeds are placed in trust, and the company, led by CEO Erich Spangenberg and CFO David Kutcher, aims for a business combination in the healthcare sector.
SIM Acquisition Corp. I announced the pricing of its $200 million initial public offering (IPO), consisting of 20,000,000 units priced at $10 each. Each unit includes one Class A share and half of a redeemable warrant, which allows purchasing one Class A share at $11.50 per share, subject to adjustments. The units will start trading on Nasdaq on July 10, 2024, under the symbol 'SIMAU'. Once separated, Class A shares and warrants will trade as 'SIMA' and 'SIMAW'. The offering will close on July 11, 2024, pending customary conditions. Additionally, underwriters have a 45-day option to purchase up to 3,000,000 extra units. The company aims to merge with entities in any industry, focusing mainly on healthcare. The management team includes Erich Spangenberg as CEO and David Kutcher as CFO. Cantor Fitzgerald & Co. is the sole book-running manager for the offering.
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